ACT Government’s Cost-of-Living Support Package: A Comprehensive Overview
In the face of escalating cost-of-living pressures, the ACT Government has unveiled a robust package in this year’s Budget to provide continued assistance to Canberrans most affected by financial strains. This comprehensive support system aims to alleviate the burden on low-income households and offer relief in various aspects of daily life.
Supporting Apprentices and Trainees
Recognizing the financial challenges faced by local apprentices and trainees, the government has introduced a new one-off payment of $250 to assist these individuals. Apprentices and trainees often have limited earning capacity while pursuing their qualifications, making this payment crucial in easing their financial burdens.
Assisting Families with Schooling Costs
In a bid to expand the Future of Education Equity Fund, the ACT Government seeks to extend support to students and families in need. The Fund has already made a significant impact, aiding over 5000 students in Canberra in 2024. With this expansion, more families will receive financial assistance for essentials such as textbooks, music lessons, and sporting equipment.
Electricity, Gas, and Water Rebate
Over 40,000 low-income households in Canberra are set to benefit from an increased Electricity, Gas, and Water Rebate, now totaling $800 per year. This boost aims to help these households manage their home energy costs effectively. Coupled with the $300 Federal Government energy payment, one in five Canberra households will receive a total of $1,100 in assistance towards their energy bills.
Targeted Cost of Living Support
The cost-of-living package in this year’s Budget includes a range of initiatives aimed at providing targeted support to those in need. Some of the key measures included are:
- Expanding the Utilities Hardship Fund, increasing vouchers from $100 to $300 to aid more households in managing their energy consumption.
- Extending the Rent Relief Fund to assist more Canberrans facing rental stress or severe financial hardship.
- Expanding public transport concession fares to include individuals with a Commonwealth Low-Income Health Care Card, facilitating more access to buses and light rail.
- Additional funding for various community organizations such as Roundabout Canberra, Scouts ACT, Fearless Women, and Women’s Health Matters to continue delivering essential services to vulnerable populations.
- Increased assistance through emergency material and financial aid programs, as well as food relief services, to support those in need of basic necessities.
- Enhanced support through the Taxi Subsidy Scheme, including increased subsidies for ride users to reduce out-of-pocket costs for vulnerable individuals.
- Raising the Life Support Rebate to $150 annually to aid more Canberrans relying on electric life support equipment for life-threatening conditions.
For more information on cost-of-living support, visit act.gov.au/money-and-tax/cost-of-living-support.
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